Consumer confidence weakens amid Covid crisis

As India battles the acute Covid crisis, the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, in April, has shown a downward slide of 1.1 percentage points, over March 2021.

The monthly PCSI is driven by the aggregation of the four weighted sub-indices.

An Ipsos said that the PCSI Employment Confidence Sub-Index is down by 0.6 percentage points, the Current Personal Financial Conditions Sub-Index has fallen by 1.5 percentage points.

The Investment Climate Sub-Index has declined by 0.9 percentage points and the Economic Expectations Sub Index is down by 0.8 percentage points.

Amit Adarkar, CEO, Ipsos India, said: “The second wave of the corona virus is in full swing and it is already starting to impact normalcy and livelihoods.”

He noted that businesses had started recovering post the first wave and now the new wave has already started to negatively impact the sentiment around jobs, finances for daily running of households, savings and investments and the economy.